National
Timberland Acquires Four Properties Totaling 818 Units
Minneapolis-based Timberland Partners acquires a quartet of geographically diverse multifamily properties in December.
TODAY’S DEALS: KeyBank Provides $27.9M for N.C. Community
KeyBank closes $27.9 million for a community in North Carolina; Lee & Associates completes a $3 million sale in Studio City, Calif.; and NorthMarq secures a $13 million CMBS loan.
Economy Watch: Economy Adds 74,000 Jobs in December
Bureau of Labor stats show 74,000 jobs added in December. ShopperTrak reports a 2.7 percent increase in retail sales this holiday season over last, and newly released Mortgage Bankers Association survey results show an expected increase in volume for 2014.
Economy Watch: ADP Reports Strong December Showing for Private-Sector Employment
More jobs were added in December than any other month in 2013 according to ADP, and newly-released Fed minutes confirm that the tapering of bond-buying will proceed in January.
Instrata at Mercedes House Fully Leased
If you need a anecdote for the strength of multifamily demand in Manhattan, consider that Invesco’s 162-unit Instrata at Mercedes House has leased up to full occupancy in just 10 months.
TODAY’S DEALS: Bell Partners Completes 207-Unit Buy in Dallas
Bell Partners acquires a newly-built asset in Dallas; Charles Dunn Co. completes a $2.8 million sale in Los Angeles; and Arbor Commercial funds $55 million for an acquisition.
Economy Watch: Home Prices Up Annually, Barely Move Monthly
The growth of home prices slows down, and U.S. total crude oil production should reach its highest level in four decades in 2015.
Economy Watch: Services Sector Growth Slows in December
The services sector of the economy takes a dip in December, though new factory orders increased in November to their highest level since the Census Bureau has been keeping track.
Capri Acquires Stamford Luxury Residential Building for $135M
Capri Capital Partners makes a big statement in Stamford, Conn., with the $135 million acquisition of 101 Park Place at Harbor Point.
TODAY’S DEALS: CBRE/New England Provides $36M for Massachusetts Acquisition
CBRE/New England provides acquisition financing for a $60 million purchase in Malden, Mass.; TGM Associates sells two assets in Kentucky; and NAI Tampa closes on a portfolio of Class A condo properties for $54.5 million.